Piper Sandler last night upgraded Leggett & Platt to Neutral from Underweight with a price target of $13, up from $11. While the company’s fundamentals remain challenged, Piper has increased confidence its earnings will increase year-over-year in 2025 due to a combination of cost savings and visibility for better fundamentals for Leggett’s Bedding segment, the analyst tells investors in a research note. The firm increased the stock’s target multiple to reflect increased cost take outs and the planned sale of the Aerospace business.
Don't Miss Our Christmas Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LEG:
- Leggett & Platt upgraded to Neutral from Underweight at Piper Sandler
- Closing Bell Movers: VF Corp. surges after quarterly results
- Leggett & Platt Faces Sales Decline, Considers Divestitures
- Leggett & Platt reports Q3 adjusted EPS 32c, consensus 33c
- Leggett & Platt cuts FY24 adjusted EPS view to $1.00-$1.10 from $1.10-$1.25